Headwater Capital Co Ltd Has $22.26 Million Stock Position in Micron Technology, Inc. $MU

Headwater Capital Co Ltd trimmed its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 35.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 78,000 shares of the semiconductor manufacturer's stock after selling 42,000 shares during the period. Micron Technology comprises 4.3% of Headwater Capital Co Ltd's investment portfolio, making the stock its 8th biggest position. Headwater Capital Co Ltd's holdings in Micron Technology were worth $22,262,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Heritage Trust Co raised its holdings in shares of Micron Technology by 9.7% in the 4th quarter. Heritage Trust Co now owns 15,026 shares of the semiconductor manufacturer's stock worth $4,289,000 after purchasing an additional 1,323 shares during the period. Generation Capital Management LLC bought a new stake in shares of Micron Technology in the 3rd quarter worth approximately $238,000. Westpac Banking Corp raised its holdings in shares of Micron Technology by 251.0% in the 3rd quarter. Westpac Banking Corp now owns 23,086 shares of the semiconductor manufacturer's stock worth $3,863,000 after purchasing an additional 16,509 shares during the period. Avanda Investment Management Pte. Ltd. bought a new stake in shares of Micron Technology in the 3rd quarter worth approximately $418,000. Finally, Wellington Management Group LLP raised its holdings in shares of Micron Technology by 19.9% in the 3rd quarter. Wellington Management Group LLP now owns 7,150,530 shares of the semiconductor manufacturer's stock worth $1,196,427,000 after purchasing an additional 1,188,296 shares during the period. 80.84% of the stock is owned by institutional investors.

Insider Activity

In other Micron Technology news, CEO Sanjay Mehrotra sold 37,439 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $960.38, for a total value of $35,955,666.82. Following the sale, the chief executive officer directly owned 387,064 shares in the company, valued at $371,728,524.32. This represents a 8.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP April S. Arnzen sold 40,000 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $347.39, for a total transaction of $13,895,600.00. Following the completion of the sale, the executive vice president owned 125,737 shares in the company, valued at $43,679,776.43. This represents a 24.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 146,000 shares of company stock valued at $85,486,715. 0.24% of the stock is owned by company insiders.

Micron Technology Stock Performance

Shares of MU stock opened at $995.87 on Friday. The stock has a market capitalization of $1.12 trillion, a P/E ratio of 47.02 and a beta of 2.16. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 0.13. The firm's 50 day moving average is $665.31 and its 200 day moving average is $459.87. Micron Technology, Inc. has a 12 month low of $103.38 and a 12 month high of $1,089.29.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 EPS for the quarter, beating analysts' consensus estimates of $9.19 by $3.01. The company had revenue of $23.86 billion for the quarter, compared to analysts' expectations of $19.97 billion. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. Micron Technology's revenue was up 196 compared to the same quarter last year. During the same period in the prior year, the company posted $1.56 EPS. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 59.23 earnings per share for the current year.

Micron Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, March 30th were paid a $0.15 dividend. The ex-dividend date was Monday, March 30th. This represents a $0.60 annualized dividend and a yield of 0.1%. This is a boost from Micron Technology's previous quarterly dividend of $0.12. Micron Technology's dividend payout ratio is currently 2.83%.

Wall Street Analysts Forecast Growth

MU has been the topic of a number of research reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Micron Technology in a report on Tuesday, May 12th. Royal Bank Of Canada lifted their price target on shares of Micron Technology from $425.00 to $525.00 and gave the stock an "outperform" rating in a report on Monday, March 16th. Citigroup lifted their price target on shares of Micron Technology from $425.00 to $840.00 and gave the stock a "buy" rating in a report on Tuesday, May 19th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Micron Technology from $500.00 to $550.00 and gave the company a "buy" rating in a research note on Thursday, March 19th. Finally, Rosenblatt Securities restated a "buy" rating and set a $500.00 price target on shares of Micron Technology in a research note on Monday, March 16th. Five analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $737.63.

Micron Technology News Summary

Here are the key news stories impacting Micron Technology this week:

• Positive Sentiment: Analysts raised outlooks on Micron after strong AI-memory demand and improving earnings expectations, reinforcing the case for more upside. Beyond Micron: 2 AI Stocks That Could Deliver Explosive Returns
• Positive Sentiment: Wolfe Research and other firms lifted price targets, signaling that Wall Street thinks Micron’s AI memory boom can keep driving results and valuation higher. Analyst raises Micron stock price target by 127%
• Positive Sentiment: Nvidia CEO Jensen Huang reportedly singled out Micron as a major beneficiary of AI spending, which strengthens confidence in Micron’s HBM4 and high-bandwidth memory position. Micron Got a Major Vote of Confidence From Nvidia’s Jensen Huang on AI Returns
• Positive Sentiment: Micron advanced construction on its large New York semiconductor project by selecting Bechtel as EPC partner, supporting long-term manufacturing expansion and domestic supply-chain resilience. Micron Selects Bechtel as Construction Partner for Historic New York Semiconductor Project

Micron Technology Company Profile

Micron Technology, Inc is a global semiconductor company that designs and manufactures memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, solid-state drives (SSDs), memory modules and embedded memory solutions for a wide range of computing and electronic devices. Micron supplies components used in data centers, enterprise and cloud infrastructure, client computing, mobile devices, automotive systems and industrial applications, and also markets consumer-facing products under the Crucial brand.

Founded in 1978 and headquartered in Boise, Idaho, Micron has grown into an international manufacturer with research, development and production facilities across multiple regions.

Want to see what other hedge funds are holding MU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Micron Technology, Inc. (NASDAQ:MU - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.